SoftOx Solutions AS: Granted NOK 97 million from the European Defence Fund for the development of an inhalation solution countering CBRN -threats

20 Jul 2022 00:03 CEST

SoftOx Solutions AS (SoftOx), a clinical-stage biopharmaceutical company based
in Norway, announced today the positive feedback for its subsidiary company,
SoftOx Defense Solutions (SDS) on its European Defence Fund (EDF) application.
SDS has been granted approximately NOK 97 million to develop an EU military
inhalation solution for all EU military troops.

SDS announced December 12, 2021, the submission of the EDF application with a
pan-European consortium, consisting of 20 international research and development
(R&D) and industry partners from 10 nations. The consortium, led by Commissariat
a l'Energie Atomique et aux Energies Alternatives (CEA) in France, is developing
military medical countermeasures (MCMs) against chemical substances, biological
agents, radioactive and nuclear substances, so-called CBRN substances, for use
in the Norwegian Armed Forces and the EU's military forces.

The consortium is granted approximately NOK 500 million and SDS is assigned 20
percent of these R&D-funds, which will be allocated at the end of 2022 for
three3 years onwards. The Norwegian Ministry of Defence (FD) and SoftOx will
jointly cover approximately 10 % of the awarded funding and FD has guaranteed to
additionally co-finance 40% of the Norwegian contribution.

The EDF incentivises and supports collaborative, cross-border R&D in the area of
defence. The Fund aims to increase the EU’s technological edge and develop
capabilities key for strategic autonomy and resilience for its Member States and
the protection of its citizens. To increase the resilience against these
emerging threats, intended accidental or natural origin, it is critical that
Europe develops necessary capabilities to protect its military and civilian
population through MCMs for which today very few are approved for use. The
present EDF grant seeks to enhance preparedness in CBRN security and emphasizes
the urgency to improve preparedness for and response to CBRN threats through the
development of appropriate MCMs.

“We are honoured and extremely proud to have been accepted as an important and
integral player in this pan-European consortium and grateful for such
significant funding for our research and development plans”, said Rune Jomaas,
CEO of SDS. “This grant is unique in a Norwegian industry context and was made
possible thanks to the support and close cooperation with the Norwegian Ministry
of Defence (FD), the Norwegian Defence Research Establishment (FFI) and the
Norwegian Defence and Security Industry Association (FSi). With this grant, SDS
will proceed into a contractual phase preparing for an exciting pan-European
research activity with dedicated partners”, concluded Jomaas.

“These funds will ensure collaboration and partnerships with leading European
research institutions with a common goal to develop new and advanced technology
against CBRN threats. This synergy will be instrumental and invaluable for SDS
and SoftOx for advancing the SoftOx technology platform into new products as
MCMs for the European defence market”, said Glenn Gundersen, Medical Director of
SDS and SoftOx.

Geir Almås, CEO of SoftOx, added, "This funding is a significant recognition of
our effort to develop cutting-edge technology. The grant also confirms that the
SoftOx technology platform can potentially be a significant game-changer in
developing new medical solutions for both the civilian and military market."

For further information, please contact:
Geir Almås, Chief Executive Officer SoftOx Solutions AS or
Rune Jomaas, Chief Executive Officer SoftOx Defense Solutions AS
Glenn Gundersen, Medical Director, SoftOx Solutions AS/SoftOx Defense Solutions
AS
Mail: ir@soft-ox.com
Phone: Front Desk: (+47) 948-59-599

The information included in this announcement is defined as inside information
pursuant to MAR article 7 and is publicly disclosed in accordance with MAR
article 17. The announcement is made by the IR responsible.

About SoftOx Solutions AS
SoftOx Solutions AS (SoftOx), listed on Euronext Growth Oslo, is a Norwegian
pharmaceutical/medtech company based in Oslo with the aim of helping to combat
major
threats to human health, namely the emergence of antimicrobial resistance (AMR),
biofilm infections in chronic wounds and the spread of viruses. For more
information on SoftOx, visit www.soft-ox.com

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